Exclusive: Jobs lost across Labour’s ‘growth potential’ sectors in blow to Burnham Politics In a blow to the government’s plans to boost employment, eight sectors previously identified as having high growth potential in Labour’s industrial strategy have suffered job losses, according to a report seen by Morning Wire. The so-called ‘IS-8’ sectors, which include life sciences, financial services and defence, were singled out by the UK government last [...]
CFIT CEO: There’s still not enough diversity in the City Opinion Anna Wallace, CEO of the Centre for Finance, Innovation and Technology, gives us her views on the City in Square Mile and Me.
Bank of England warns Burnham of UK economy’s ‘big issue’ Economics The Bank of England has warned Andy Burnham that economic growth remains the “big issue” facing the UK economy as he prepares to take the keys to Number 10. Andrew Bailey, the central bank governor, told policymakers on Tuesday that the UK has had “low growth for the best part of 16 to 17 years”. [...]
London cannot afford to sleepwalk through the next decade July 9, 2026 London is slipping into complacency. We must use the next decade to reassert ourselves as a premier financial centre, writes Aster Crawshaw.
Bank of England to relax capital rules despite warning of economic threats July 7, 2026 The Bank of England set out proposals to relax UK banks’ capital rules even as it sounded the alarm on the growing risk of multiple threats hitting the UK economy. In the latest meeting of the central bank’s Financial Policy Committee top officials said it would work with watchdogs on a package of “broad reforms” [...]
Tale of two cities: London leaps ahead in global finance but domestic growth stalls July 3, 2026 Canada has cemented its dominance in international finance ten years on from the Brexit vote but faced sobering domestic growth that failed to match the momentum. The capital sees more international activity conducted than the next eight largest financial centres in Europe combined, according to a new report by New Financial. The [...]
Barclays splashes £750m on Canary Wharf base in ‘strong endorsement’ of London June 30, 2026 Barclays has taken control of its global headquarters based out of Canary Wharf in a £750m deal hailed as a “strong endorsement” of the financial district and the capital itself. The blue-chip lender has entered a long-term leasehold interest agreement with Canary Wharf Group that grants the bank to use the property – based at [...]
UK banks fear a ‘disaster’ with Ed Miliband as Chancellor June 24, 2026 City banks are fretting over the prospect of Ed Miliband as Chancellor as Andy Burnham mulls who he will give the keys to Number 11. The banking industry is bracing for a shake-up at the Treasury and fears it could be hit with a fresh raft of taxes under a new Chancellor while key deregulatory [...]
House of Lords lashes out at Labour for ‘eliminating’ its oversight of financial watchdogs June 18, 2026 An influential group of peers have hit out at the government for ditching the Lords’ oversight of financial watchdogs as part of legislation passed in the King’s Speech. Writing in her capacity as chair of the Lords’ Financial Services Regulation Committee, Baroness Noakes said the government had “eliminated” an “integral” part of the regulatory system. [...]
Banks ‘not ready’ for motor finance scheme, says City watchdog June 9, 2026 The City watchdog has warned that motor finance lenders are “not as ready as we would expect” for the introduction of its long-awaited redress scheme. Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), has written to the Treasury Committee following inquiries around the legal challenges to its car mis-selling scheme. The regulator published [...]